Avanti signs molybdenum offtake contract with TK unit

Jun 21, 2013 | 02:39 PM | Daniel Fitzgerald

Tags  Avanti Mining, ThyssenKrupp, TK MetPro, ThyssenKrupp Metallurgical Products, Kitsault, molybdenum, moly, offtake agreement KfW IPEX-Bank

NEW YORK — Avanti Mining Inc. has signed an offtake agreement with ThyssenKrupp Metallurgical Products GmbH (TK MetPro) for 50 percent of the total molybdenum production from its Kitsault project in northern British Columbia.

The agreement, which covers the life of the mine, will also see TK MetPro, part of Essen, Germany-based ThyssenKrupp AG, become the exclusive sales agent for Avanti’s products in Europe and North America. The mine is expected to produce an estimated 374 million pounds of molybdenum over 16 years (amm.com, Feb. 6). ....

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